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JTel rings up 1 million subscribers

For the first half of 2004 Jordan Telecom Group (JTel) has reported 1.05 million subscribers, a 5% increase compared to December 2003 while total revenues were US$225 million. The rise in MobileCom subscribers base by 12% was the main driver for this increase.

By the end of the first half of 2004 Jordan Telecom Group (JTel) number of subscribers reached 1.05 million customers with 5% increase compared to Dec 2003. The rise in MobileCom subscribers base by 12% was the main driver for this increase.

The subscribers structure of the group consist of 61% from fixed-line (Jordan Telecom), and 38% from Mobile-Line (MobileCom) and 1% from Wanadoo.

For the first half of year 2004, Jordan Telecom Group reported an increase in revenues by 7%, amounted to US$14.9 million reaching US$225 million compared to the first half of year 2003.

36% rise in Mobile-Line (MobileCom) revenues, due to 25% increase in subscribers base. 2% decline in fixed-line (Jordan Telecom) revenues due to the latest tariff rebalancing policies applied in April 2004, as national and international tariff decreased by approximately 17%.

Consolidated operating expenses (excluding depreciation and amortisations) for the first half of year 2004 decreased by 2% to reach US$126 million compared to US$129.1 million in the first half of 2003.

This decrease is mainly attributed to lower fixed-line (JTel) OPEX by 10%, US$10 million compared to the first half of 2003 due to the effective cost cutting policy that the company adopted earlier.

Mobile-line (MobileCom) OPEX increased by the end of June 2004 by 17%, JD 4.5 million compared to the same period in 2003 mainly due to the increase in cost of services as a result of the higher revenues.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) reached by the end of the first half of 2004 US$99.5 million which is higher than the first half of year 2003 by US$17.7 million 22%, affected by the US$14.9 million higher revenues and JD 2.0 million lower operating expenses (OPEX).

As a consequence of higher EBITDA, the EBITDA margin increased by 5% reaching 44% compared to 39% by the end of June 2003. There was an increase in the consolidated net income amounted to US$6.9 million, 36% by the end of June 2004, compared to the same period in 2003, reaching US$26.5 million, which is primarily affected by US$17.7 million increase in EBITDA.

Jordan Telecom, established in 1971, provides the Kingdom's fixed line network, GSM, and internet content delivery services. The state run operator was privatised in January 1997 and in January 2000, JTel entered into a partnership with France Telecom.

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